Royal Centre office complex

Royal Centre office complex sells for $285 mill

Monday, March 28, 2016

Brookfield Canada Office Properties (Brookfield) has sold its Royal Centre office skyscraper in downtown Vancouver for $285 million to an undisclosed buyer.

Located in the financial district at 1055 West Georgia Street, the Class A tower is one of Vancouver’s largest at 589,000 square feet spanning 37 floors, with a developable three-storey podium at the northwest corner of Burrard and West Georgia streets.

Built in 1973, the retail and office complex reflects the name of its main tenant, the Royal Bank of Canada’s British Columbia head office.

Brookfield says the proceeds from the sale will be distributed to unitholders next month. The distribution will be $1.60 per trust unit, payable April 19 to holders of record as of April 5.

The complex has direct access to the Burrard SkyTrain and is situated within the business and retail amenities of downtown.

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